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GBP strong vs USD

GBP strong vs USD

Sterling managed to climb to above 1.60 against the USD this morning based on the inflation figures in the UK which came in at 3.7%, well above the target of 2% and the largest month on month rise since records began. This will put more pressure on the MPC to start looking at raising interest rates in the UK which is the usual cure for high inflation.

Yesterday there was a meeting of euro area finance ministers who did not say they were going to increase the size of the euro bailout fund which is what some were hoping for and will cause even more downward pressure on the Euro in the short term. This morning’s ZEW index in Germany should offer a little guidance but the euro is still very vulnerable so negative market sentiment.

What does this all mean for me? Well buying your EUR, USD, AUD or any other currency at the wrong time could cost you a fortune. There is no crystal ball but Currency UK can give you the information you need to make an informed decision.

 

Currency UK will then offer you the best exchange rates available and ensure that you subsequent international transfers are handled as quickly and as efficiently as possible.

 

Contact us us now on +44 (0)20 7738 0777 or click here 
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